Police zeroing in on online scams

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Tools of the trade: Comm Saiful (second from left) with deputy CCID director (intelligence and operations) SAC Willey Richard looking at some of the items seized at the federal CCID headquarters. KUALA LUMPUR: Police have received 672 reports involving over RM90mil worth of losses in scams this year. Nearly 70% of these cases or 467 reports involved online investments with losses estimated at about RM53mil between Jan 1 and July 15. Acting commercial crimes investigation department (CCID) director Comm Datuk Saiful Azly Kamaruddin said some of these victims were contacted via social media by so-called online traders that touted expertise in cryptocurrency, forex and binary option-type investments. “There were also cases where the website addresses or URL were genuine investment sites but the syndicates took advantage of their victims by not channelling their funds to the intended …